Genius Sports (NYSE:GENI) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Genius Sports from “strong sell” to “sell,” while broader analyst sentiment remains more favorable, with a consensus “Moderate Buy” rating and an $11.14 price target.
• Genius Sports reported quarterly revenue of $187.95 million, up 30.5% year over year and above estimates, but its loss of $0.21 per share missed consensus expectations of a $0.09 loss.
• The stock opened at $6.93, versus a 52-week range of $3.83 to $13.73. Institutional investors own approximately 81.91% of the company’s shares.

Genius Sports (NYSE:GENI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Monday.

A number of other research firms have also recently commented on GENI. B. Riley Financial reiterated a "buy" rating on shares of Genius Sports in a research report on Friday, May 8th. Citigroup lowered their price target on shares of Genius Sports from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 8th. BTIG Research cut their price objective on shares of Genius Sports from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Roth Capital set a $10.00 target price on shares of Genius Sports in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research report on Monday, May 11th. They set a "buy" rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Genius Sports has an average rating of "Moderate Buy" and a consensus target price of $11.14.

Genius Sports Stock Performance

Genius Sports stock opened at $6.93 on Monday. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $13.73. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.36 and a beta of 1.90. The stock's fifty day moving average is $6.34 and its two-hundred day moving average is $6.02.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The firm had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. During the same period last year, the firm earned ($0.03) EPS. The company's quarterly revenue was up 30.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Genius Sports will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors have recently bought and sold shares of GENI. Lexington Hill Partners LLC purchased a new position in Genius Sports in the second quarter valued at approximately $64,000. Moody National Bank Trust Division grew its stake in Genius Sports by 32.9% during the second quarter. Moody National Bank Trust Division now owns 589,959 shares of the company's stock worth $3,575,000 after buying an additional 146,044 shares during the period. Pacer Advisors Inc. increased its position in shares of Genius Sports by 29.1% in the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company's stock worth $68,000 after acquiring an additional 3,440 shares in the last quarter. Parallel Advisors LLC acquired a new stake in shares of Genius Sports in the first quarter worth $25,000. Finally, Ritter Alpha LP acquired a new stake in shares of Genius Sports in the first quarter worth $77,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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